Making the cuts permanent did NOT drastically reduce revenue. It stopped it from beind raised. These people would never have made it through 9th grade algebra. They don’t know the difference between a “negative” and a “positive”.
Taxing the evil rich simply does not work in the long run, but worse, the Republicans have taxed ONLY the rich who are not protected DemoRat rich or protected DemoRat crony capitalist (Fascist) corporations.
Thus the targeted group (those who do not actively support Marxism) will flee, be destroyed, or rearrange to become crony capitalists (Fascists) for government protection and subsidy.
Therein lies the problem, the Socialist system (including it's Fascist and Marxist components), always spends everyone into bankruptcy by getting no value for the money, and when bankrupt, one no longer needs government protection and can't pay to get it anyway. Now the government can't pay ANYBODY either and everybody but the elite inner circle Communist oligarchs are equally completely destitute and income free.
Including Henry Blodget.
What a pantload of misleading crap. What this buffoon neglects to mention these "payroll taxes" are not technically taxes (effectively, yes, but not specifically). "Payroll taxes" are technically insurance payments that are 6.2% of ones paycheck mandated by the Federal Insurance Contributions Act (FICA) for Old Age, Survivor and Disibility Insurance (OASDI). The 1.45% they pay is for Medicare Insurance.
Further, each of these very low wage earners get back far more in EITC, child credits, etc. than they pay in on 6.2% of their meager income. This statement is just another hit at people that actually have made something of their life and don't have to ask "do you want fries with that?" The founders of this country never meant to have a permanent freeloading class of citizens that leech off the rest of us. This heart-tugging stuff about regressive, excessive, larger percentage, etc. is just diversionary tactics that hide the real problem - too many frigging leeches.
Next.....Michael Jordan will tell us how his Charlotte Bobcats are actually winning....despite their 3-22 record
Sure, and president elect Romney announced today that he is tasking incoming Veep paul Ryan to head a government wide review of finances to rid the nation of years of fraud waste and abuse. The anti corruption measures are widely supported by the public and are expected to dramatically reduce the cost of government and will pave the way to lower taxes and a stronger economy...snip
I think this guy has a good point. I was surprised how good a deal it was for the conservative side in terms of taxes and SS. It’s true we didn’t tackle the spending issue, but that was inevitable given the short time available to fix the looming tax problem. The other good news is that the Rs have good leverage on the spending issue via the debt ceiling, tho that is going to be another brutal battle, with the MSM throwing rocks at the good guys..
Who`s the idiot who wrote this horse shit? And are you swallowing this shit sandwich? Damn, so whats shit taste like?
Henry “Buy Internet Stocks” Blodget
KABLAM
Where? On a parallel universe?
Also note:
In 2002, then New York State Attorney General Eliot Spitzer, published Merrill Lynch e-mails in which Blodget gave assessments about stocks which conflicted with what was publicly published. In 2003, he was charged with civil securities fraud by the U.S. Securities and Exchange Commission. He agreed to a permanent ban from the securities industry and paid a $2 million fine plus a $2 million disgorgement.